The HS Code 27112100 refers to natural gas in its gaseous state. This code is used to classify and identify this specific product for international trade purposes. Understanding the HS code is essential for importers, exporters, and customs officials to ensure proper classification, regulation, and taxation of goods.
Natural gas is a vital energy resource used for various purposes, including heating, electricity generation, and as a fuel for vehicles. It is a cleaner and more environmentally friendly alternative to other fossil fuels, such as coal and oil. As the demand for cleaner energy sources increases, the import and export of natural gas plays a crucial role in meeting global energy needs.
The bound or most-favored-nation (MFN) duty rate for HS Code 27112100 is free. This means that countries do not impose any tariffs or duties on the import or export of natural gas in its gaseous state. It encourages international trade by eliminating trade barriers and promoting fair competition among trading partners.
The quantity unit for HS Code 27112100 is kilograms per cubic meter (KM3). This unit of measurement provides a standardized way to measure the volume and weight of natural gas during trade transactions. It ensures accurate and consistent measurement across different countries and trading partners.
In addition to the general duty-free status, there may be special tariff preference programs that apply to the import or export of natural gas. These programs offer additional benefits or reduced tariffs for specific countries or regions. However, specific details about these programs are not provided in the available data.
When it comes to importing natural gas in gaseous state (HS Code 27112100), some of the US states that actively engage in this trade are Puerto Rico, Hawaii, Idaho, Maine, Montana, North Dakota, South Dakota, Vermont, Washington, Wisconsin, Virgin Islands, Wyoming, Illinois, Iowa, Massachusetts, Minnesota, New York, and Vermont. These states have a demand for natural gas and rely on imports to meet their energy needs.
On the other hand, several US states actively export natural gas, including Louisiana, Maryland, Pennsylvania, Texas, Washington, Wyoming, North Dakota, Texas, Washington, Arizona, Maine, Michigan, Nebraska, New York, and North Dakota. These states have significant natural gas reserves and production capabilities, allowing them to export to other states and even internationally.
The HS Code 27112100 is important for tracking and regulating the import and export of natural gas in its gaseous state. It ensures proper classification, accurate measurement, and fair trade practices. Understanding this code is crucial for businesses involved in international trade and customs officials responsible for enforcing trade regulations.